From July 7, customers of the exchange Binance will not be able to deposit accounts in euros via bank transfer. However, traders will be able to use credit/debit cards to transfer funds. This situation is due to restrictions imposed by the financial regulators.
Deposits in EUR through SEPA are stopped for an indefinite period. This information was published in a message of the crypto-exchange on 06.07.2021. Earlier, Barclays Bank reported that it stopped serving Binance customers. Financial regulators have already warned traders that the cryptocurrency exchange is not properly licensed.
“Due to events beyond our control, we are temporarily suspending euro deposits via SEPA bank transfers from 08:00 UTC (11:00 Moscow time) on July 7, 2021,” Binance representatives said.
Due to the increased attention of regulatory agencies, Binance has already warned users of the platform about the inaccessibility of the payment system Faster Payments to withdraw British pounds from the crypto-exchange. However, despite constant restrictions from British, Japanese, and Canadian financial regulators, the company continues to be a leader among competitors in the cryptocurrency industry.